[2] Award of $10 Million to Provide Housing for 1,400 Families.News Editors SACRAMENTO, Calif.--(BUSINESS WIRE)--May 29, 2001 Continuing the Governor's housing commitment, the California Housing Finance Agency is pleased to announce the award of $10 million in low interest loans to 10 local agencies statewide. These funds, from CHFA's Housing Assistance Trust, will be used to finance a broad spectrum of affordable single and multifamily housing projects. The approved loans range from $300,000 to $1.7 million, depending on the type and scope of each project. These loans are expected to result in over 1,400 housing units. The Housing Authority of the County of San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. will use their $1 million to assist with the acquisition of an existing 96-unit rental housing complex that will be rehabilitated and made available to low-income households. Other recipients of this funding are: The Cities Of Bakersfield, East Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Santa Cruz Santa Cruz, city, United States Santa Cruz (săn`tə kr  z), city (1990 pop. 49,040), seat of Santa Cruz co., W Calif., on the north shore of Monterey Bay; inc. 1866. , Signal Hill; The County of San Mateo San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. ; The Housing Authority of the County of Kern; The Redevelopment Agency of the City and County of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden ; and The Redevelopment Agencies of the Cities of Westminster and Woodland. These loans will be funded through a competitive program called Housing Enabled by Local Partnerships (HELP). Available to all cities and counties throughout the state, it is structured as a "loan to lender" Program. CHFA CHFA College of Humanities and Fine Arts CHFA Connecticut Housing Finance Authority CHFA California Housing Finance Agency CHFA Canadian Health Food Association CHFA Colorado Housing Finance Authority provides a three percent simple interest loan to qualified local government agencies, which then become the lender. They directly provide the loans for projects that address a community's unmet affordable needs, as documented in an approved housing element, consolidated plan, or other documented housing plan. For additional information on CHFA's HELP Program, contact Doug Smoot, HELP program manager at 916/322-1325. |
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